Birla to Vie With Billionaire Ambani for Setting Up Indian Banks

Birla to Vie With Billionaire Ambani for Setting Up Indian Banks

Brent Lewin/Bloomberg

A laborer carries a parcel past the Reserve Bank of India (RBI) in the BBD Bagh area of Kolkata. India has 26 state-run banks, accounting for 76 percent of outstanding loans as of March 31, according to the central bank.